BHARAT PETROLEUM CORPORATION LTD. - News Clarification

The Exchange had sought clarification from Bharat Petroleum Corporation Limited regarding new item captioned "State-owned oil firms to bid together for LNG blocks abroad". The Company has clarified that "Bharat Petroleum Corporation Ltd, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Gujarat State Petroleum Corporation are Government Companies in discussion with International Gas Suppliers with a view to have long term supply arrangement based on market conditions which are part of regular business process. It is clarified that there is no proposal presently for bidding jointly for blocks abroad. Bharat Petroleum Corporation Ltd has not so far signed any agreement with foreign players for import of gas. It is submitted that presently there is no information that has bearing on the operation/performance of the Company which are price sensitive in nature requiring disclosure under clause 36 of the Listing Agreement."